Economic Theories
Most economic theories assume there is only one income stream to a household; this a useful simplification for modeling, but does not necessarily reflect reality. Many households now include multiple income-earning members.
Read more about this topic: Household
Famous quotes containing the words economic and/or theories:
“One set of messages of the society we live in is: Consume. Grow. Do what you want. Amuse yourselves. The very working of this economic system, which has bestowed these unprecedented liberties, most cherished in the form of physical mobility and material prosperity, depends on encouraging people to defy limits.”
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“The wise man regulates his conduct by the theories both of religion and science. But he regards these theories not as statements of ultimate fact but as art-forms.”
—J.B.S. (John Burdon Sanderson)